Covea Finance Raises Stock Position in International Flavors & Fragrances Inc. $IFF

Covea Finance lifted its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 17.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 242,508 shares of the specialty chemicals company’s stock after purchasing an additional 35,980 shares during the period. Covea Finance owned 0.09% of International Flavors & Fragrances worth $16,343,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Invesco Ltd. raised its stake in International Flavors & Fragrances by 131.3% in the third quarter. Invesco Ltd. now owns 7,167,176 shares of the specialty chemicals company’s stock worth $441,068,000 after buying an additional 4,069,075 shares in the last quarter. Ilex Capital Partners UK LLP bought a new stake in International Flavors & Fragrances during the 2nd quarter valued at approximately $212,090,000. Ameriprise Financial Inc. grew its holdings in shares of International Flavors & Fragrances by 1,842.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,491,606 shares of the specialty chemicals company’s stock worth $183,264,000 after acquiring an additional 2,363,307 shares during the period. Norges Bank bought a new position in shares of International Flavors & Fragrances in the 2nd quarter worth approximately $152,736,000. Finally, Dodge & Cox lifted its stake in shares of International Flavors & Fragrances by 5.5% in the 3rd quarter. Dodge & Cox now owns 36,972,638 shares of the specialty chemicals company’s stock valued at $2,275,296,000 after purchasing an additional 1,925,251 shares during the period. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Trading Down 2.3%

NYSE IFF opened at $66.59 on Friday. International Flavors & Fragrances Inc. has a 12 month low of $59.14 and a 12 month high of $84.45. The stock has a market cap of $17.01 billion, a P/E ratio of -48.61, a P/E/G ratio of 1.79 and a beta of 0.99. The stock’s fifty day moving average price is $74.59 and its 200-day moving average price is $68.24. The company has a current ratio of 1.42, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.05). The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.52 billion. International Flavors & Fragrances had a positive return on equity of 7.67% and a negative net margin of 3.20%.International Flavors & Fragrances’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 EPS. As a group, equities analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 20th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 20th. This represents a $1.60 annualized dividend and a yield of 2.4%. International Flavors & Fragrances’s payout ratio is -116.79%.

Insider Activity

In other news, Director Paul J. Fribourg purchased 142,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were purchased at an average price of $70.13 per share, for a total transaction of $9,958,460.00. Following the completion of the acquisition, the director directly owned 2,422,730 shares in the company, valued at $169,906,054.90. This represents a 6.23% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wall Street Zen raised International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Sunday, January 4th. Barclays boosted their target price on shares of International Flavors & Fragrances from $78.00 to $91.00 and gave the company an “overweight” rating in a report on Friday, February 13th. BNP Paribas Exane reduced their target price on shares of International Flavors & Fragrances from $89.00 to $88.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Berenberg Bank lowered their price target on shares of International Flavors & Fragrances from $78.30 to $77.50 and set a “hold” rating for the company in a research report on Thursday, February 5th. Finally, UBS Group boosted their price objective on shares of International Flavors & Fragrances from $71.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. Thirteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.09.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.